Apple faked options grant documents, reports say

SAN FRANCISCO  Apple Computer gave CEO Steve Jobs 7.5 million unauthorized stock options in 2001 and later falsified records to make it appear as though its board of directors met to approve the grant, according to a Thursday (Dec. 28) Web report published by Financial Times.

According to the report, which cites unnamed sources, the U.S. Securities and Exchange Commission (SEC) is now reviewing evidence to determine if it will pursue legal action against the company or any of its employees.

The Recorder, a publication of Law.com, reported Wednesday that Jobs has hired his own legal counsel in relation to the matter.

The Nasdaq stock exchange has threatened to remove Apple's listing if it does not file quarterly financials with the SEC as early as this week. Apple, like a host of other companies, has delayed these filings while it conducts an internal investigation into historical stock options granting. Apple is expected to make those filings this week.